Medgenics Inc Medgenics Prices Public Offering of Common Stock (4594X)
February 08 2013 - 2:05AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 4594X
Medgenics Inc
08 February 2013
Press Release 8 February 2013
Medgenics Prices Public Offering of Common Stock and
Warrants
Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) (the
"Company" or "Medgenics"), the developer of a novel platform
technology for the sustained production and delivery of therapeutic
proteins in patients using their own tissue, today announced that
it has priced an underwritten public offering of 5,600,000 shares
of common stock and Series 2013-A warrants to purchase up to an
aggregate of 2,800,000 shares of common stock at an initial
exercise price of $6.78. The shares and the warrants will be sold
together as a fixed combination, each consisting of one share of
common stock and a warrant to purchase one-half of a share of
common stock, at a price to the public of $5.25 per fixed
combination. The shares of common stock and warrants will be issued
separately. Gross proceeds to Medgenics will be $29,400,000. The
offering is expected to close on February 13, 2013, subject to
customary closing conditions.
Maxim Group LLC is acting as sole book-running manager for the
offering. National Securities Corporation and MLV & Co. are
acting as co-managers for the offering. Nomura Code Securities
Limited and SVS Securities Plc acted as sub-agents to the offering
in Europe. Medgenics has granted the underwriters a 45-day option
to purchase up to an aggregate of 840,000 additional shares of
common stock and/or additional warrants to purchase up to an
aggregate of 420,000 shares of common stock.
The securities described above are being offered pursuant to a
prospectus supplement and an accompanying prospectus filed by
Medgenics as part of a shelf registration statement, previously
filed with and declared effective by the U.S. Securities and
Exchange Commission (the "SEC"). A preliminary prospectus
supplement related to the offering, together with the accompanying
prospectus, was filed with the SEC on February 7, 2013. A final
prospectus supplement related to the offering, together with the
accompanying prospectus, will be filed with the SEC. The
preliminary prospectus supplement, together with the accompanying
prospectus, is available, and the final prospectus supplement,
together with the accompanying prospectus, will be available, on
the SEC's website at http://www.sec.gov. In addition, copies of the
preliminary prospectus supplement and the accompanying prospectus,
and the final prospectus supplement and accompanying prospectus,
when available, may be obtained from Maxim Group LLC, Equity
Syndicate Prospectus Department, 405 Lexington Avenue, 2(nd) Floor,
New York, NY, 10022, or by telephone at 1-212-895-3745, or by email
at syndicate@maximgrp.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Medgenics
Medgenics is developing and commercializing Biopump(TM), a
proprietary tissue-based platform technology for the sustained
production and delivery of therapeutic proteins using the patient's
own tissue for the treatment of a range of chronic diseases
including anemia, hepatitis and hemophilia, among others.
Forward-looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and as that term is defined
in the Private Securities Litigation Reform Act of 1995, which
include all statements other than statements of historical fact,
including (without limitation) those regarding the Company's
financial position, its development and business strategy, its
product candidates and the plans and objectives of management for
future operations. The Company intends that such forward-looking
statements be subject to the safe harbors created by such laws.
Forward-looking statements are sometimes identified by their use of
the terms and phrases such as "estimate," "project," "intend, "
"forecast," "anticipate," "plan," "planning, "expect," "believe,"
"will," "will likely," "should," "could," "would," "may" or the
negative of such terms and other comparable terminology. All such
forward-looking statements are based on current expectations and
are subject to risks and uncertainties. Should any of these risks
or uncertainties materialize, or should any of the Company's
assumptions prove incorrect, actual results may differ materially
from those included within these forward-looking statements.
Accordingly, no undue reliance should be placed on these
forward-looking statements, which speak only as of the date made.
The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
As a result of these factors, the events described in the
forward-looking statements contained in this release may not
occur.
- Ends -
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
Andrew.pearlman@medgenics.com
LHA Phone: +1 212-838-3777
Anne Marie Fields
afields@lhai.com
Nomura Code Securities (NOMAD/Broker) Phone: +44 207 776 1219
Jonathan Senior
Giles Balleny
SVS Securities plc (Joint Broker) Phone: +44 207 638 5600
Alex Mattey
Ian Callaway
Abchurch Communications Phone: +44 207 398 7718
Adam Michael
Joanne Shears
Jamie Hooper
Harriet Rae
harriet.rae@abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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